Housing costs in Minnetonka?
A typical home costs
$802,400, which is 137.3% more expensive than the national average of
$338,100 and 159.3% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Minnetonka costs
$1,850 per month, which is 49.2% more than the national average of
$1,240 and 24.3% more than the state average of
$1,400.
Can I afford Minnetonka?
To live comfortably in Minnetonka (zip 55391), Minnesota, a minimum annual income of
$153,720 for a family, and
$60,400 for a single person is recommended.
What does A.I. say about Minnetonka?
The cost of living in 55391 Minnetonka, MN is above average compared to the rest of the United States. According to the Cost of Living Index, the cost of living in 55391 Minnetonka, MN is around 115 out of 100, with 100 representing the national average. Housing costs are particularly high in this area due to its close proximity to larger cities such as Minneapolis and St. Paul. The median home price in Minnetonka is approximately $400,000, which is significantly higher than many other cities throughout America. In addition, residents in Minnetonka pay more for groceries and utilities than most other parts of the country. Despite these elevated costs, Minnetonka remains a desirable place to live due to its fabulous neighborhoods and great school districts.